Still blocking compensation for fraud victims, Allen Stanford seeks early release - Greater Baton Rouge Business Report
(file photo) Allen Stanford, who was convicted of leading a multibillion-dollar Ponzi scheme that ensnared numerous Capital Region investors , is seeking early release from what is effectively a life sentence. While his effort may be a long shot–this is his third try for a "compassionate release"–the court-appointed receiver is taking the opportunity to blast a separate effort by Stanford that is holding up distribution of partial compensation to victims. "Defendant's actions in recent weeks demonstrate that, beyond a lack of remorse for his conduct, Defendant continues to act with actual, conscious indifference to the thousands of victims of his mega-fraud," the receiver's attorney says in a response to Stanford's motion that was filed yesterday. The receiver and the Official Stanford Investors Committee settled with five banks, which victims accuse of aiding Stanford' fraud, for a total of more than $1.6 bil